Although the joint venture between Thien Minh Group and AirAsia stopped working, Thien Minh Group has not given up on its ambitions to join the Vietnamese aviation market by establishing a new airline.
Tran Trong Kien, chairman of Thien Minh Group, poured VND600 billion into the new airline
Thien Minh Group Aviation JSC has just been granted the business registration certificate with the charter capital of VND1 trillion ($43.48 million). The company is headquartered in Hoi An, Quang Nam and has three major shareholders, including Thien Minh Aviation JSC (30 per cent), Tran Trong Kien (60 per cent), and Tran Hang Thu (10 per cent)
According to the business registration, Tran Trong Kien is the chairman cum general director of Thien Minh Aviation JSC, which registered activities in seven industries, including air passenger transport, air cargo transportation, and aircraft leasing.
Thien Minh Aviation JSC was established not much after Thien Minh and AirAsia announced to stop co-operatingin this April. However, AirAsia seems to not have given up on conquering the Vietnamese aviation market, and neither has Thien Minh Group. Both of the corporations will shoot for drawing the attention of the over 90 million people in the country.
Recently, the Vietnamese aviation market featured five players including Vietnam Airlines, VietJet, Jetstar, VASCO, and Bamboo Airways. Besides Thien Minh, Vietstar Airlines (Vietstar Airlines Multirole Corporation) and Vietravel Airlines have ambitions to become the sixth in line.
However, Vietstar Airlines is still waiting for an aviation licence, although it was established in mid-2016 with a capital of VND300 billion ($13.04 million). Earlier this month, Vietravel also submitted a dossier to set up Vietravel Airlines, with an investment of about VND1 trillion ($43.48 million).